There are multiple DMS options out there.Seeing Machines don't have the only solution. Ours is premium and arguably the best.We are, as far as I'm aware, the only provider that takes the data out of the cabin and offers the 24 hour monitoring service that enables companies to plan and time routes. This is a unique sell and hopefully enough companies will take it up for us to win a meaningful share. |
All theory, conjecture, dangling carrots, targets and spin at the moment.
The whole G3 / 2024 GSR opportunity needs to be explained in detail to investors. There's no point making claims of hundreds of thousands of PO's received, a market size of 330K commercial vehicles per annum and a deadline 5 months away if they can't turn these drivers into sales. I'm going to be most annoyed if come July Paul starts coming out with all kinds of excuses about why we, Seeing Machines, with the only DMS product available and the only ones tendering don't deliver 80% plus of this market opportunity. However, I'm sure he will have his little black book of excuses ready to rattle out some lame reasons. |
Magna's exclusive deal with SEE for mirrors expires 30 June 2025 and the conv expires Oct 2026, so if Magna is successful, I would expect something between those two dates. Key shareholders would have to give this the OK nod, as they own 44%+, so no cheeky bid. Nxt 12mths is key. |
I agree that Magna may well be a bidder but if that’s their intention why wait until we have achieved breakeven & profitability ,by which time our share price will be much higher resulting in a much higher starting point for their hypothetical bid.They will have a very good idea ,by now ,as to how much mirror business they expect to win & whether or not an acquisition of SEE would be beneficial.A cheeky bid now could be successful @ 12-15p but a share price of 15p (Stifel target)could see them paying 25-30p .I am certainly in no rush . |
Magna has also invested a not inconsiderable amount of time and money in SEE, who will eventually end up as a roundabout 13% shareholder in SEE (10% on the 11p convertible and the rest on interest on the conv at 11p) If the rear view mirror is successful for Magna in its next few generational transformations, IMHO they will be the exit route for SEE shareholders. |
You might be rash to assume that the newly introduced magna mirror & the G3 add nothing to sales momentum.
The Co put a lot of money & time into the mirror & G3. I guess they believe it will add significantly to sales.
Since the CEO bought 7.5m shares at 6p each I am minded to think he believes these new products will succeed.
So I think it premature to write off such prospects - and odd to not acknowledge them.
You might also consider the positive cash implications of direct ordering of G3 from ECM T1s. The CFO or someone is thinking smart on w cap |
Not spin - just opinion...
We will need to await numbers to June 2024 to see if the latest projections are accurate.
I sincerely hope they are but I find it difficult to believe they make up the H1 shortfall on expectations.
Time will tell. |
that's your spin union hall.
100% growth in auto yoy
reiterates targets including on cash |
Underwhelming Proactive Interview....
GEOTAB
10 SEE staff there including Max & Gerard. Stand A1
hxxps://site.pheedloop.com/event/Connect2024/exhibitors/EXHE0Y5NWE6HJ914N |
dont understand first part of post Hope anyone saw proactive's update |
Just reading Mallorca 9 history general theme negative short behaviour it seems.The statements written each can be counted the latest, "regulations could be put back ".
Probably trying to scare people the rest I discount to lack of research on his part.I have written some material just look at the vehicles on the road and royaltyRevenue.
Just use your common sense as more vehicles means more revenue.Magna has plenty of factories around the world and car makers producing cars at these sites. Just hold wait and watch.
Happy Investing |
The current introduction dates of the various regulations could also be put back ! |
Fair comment Bones -but presumably you recognise the possibility that any (unexpected) good news could positively impact our SP,e.g. Decent levels of G3 orders,long awaited substantial Auto wins,equally long awaited Aviation contract news-preferably all 3 |
Thought I'd have another loom after today's trading statement . Still loss making but approaching break even . Whilst that's a good sign to be making losses on increased turnover isn't so good and with a lot of profit built into the mkt cap it still doesn't exactly look cheap and why it continues to sink lower .
The general economy isn't helping with people and companies not looking to spend so the increasing revenue is a decent effort .
Just looks overvalued given the lack of profit and any bad news would see this get hammered m one delay or slump in revenue or profits would hit this hard with such a high mkt cap . That's the gamble but not one for me |
 Stifel released a new report on Seeing Machines this morning on 8th February 2024. What do they say?
Searching for: Stifel report Seeing Machines 8th February 2024
Generating answers for you…
Certainly! Stifel’s latest report on Seeing Machines, published on February 8, 2024, provides valuable insights into the company’s current status and growth trajectory. Here are the key takeaways from the report:
Financial Performance:
Underlying Revenue growth for the first half of FY2024 (H1 FY2024) stands at an impressive 28%, reaching US$25.6 million (excluding one-off Magna exclusivity payments). The reported revenue growth, including these one-offs, is 5%.
Annualized Recurring Revenues increased by 22% year on year, reaching US$14.5 million.
The company’s cash position as of December 31, 2023, is US$22.2 million, with a cash burn of US$13.9 million. Receivables and inventory balance is US$31.1 million, and a working capital unwind of $5-6 million is expected in H2 FY2024.
Operational Highlights:
Seeing Machines has been appointed by an existing European Tier 1 customer to deliver its FOVIO Driver Monitoring System (DMS) technology for a new European OEM. Initially, the focus is on enhanced regulatory-focused DMS features, with an initial lifetime value of US$30 million.
Additionally, the company has been appointed by another existing Tier 1 customer to deliver FOVIO DMS technology on an additional program for an existing European OEM. This program targets safety regulation expectations, with an initial lifetime value of US$15 million.
Overall, Seeing Machines has now been appointed to deliver 17 Automotive programs with 11 individual OEM customers, building the cumulative initial lifetime value of all OEM programs to US$366 million.
Collins Aerospace, in an exclusive collaboration with Seeing Machines, has initiated joint development of the world’s first aviation fatigue detection solution—a potential multi-modal Pilot Support System.
The company’s Aftermarket DMS, Guardian Generation 3, was independently tested and assessed to meet requirements for drowsiness detection in the European Commission’s General Safety Regulation, effective from July 2024.
Post-Period Highlights:
At CES 2024 (the world’s largest technology conference held in Las Vegas), Seeing Machines successfully launched Guardian Generation 3. The company also announced the beginning of regulatory-driven sales with three European OEMs in anticipation of the General Safety Regulation requirements.
CES 2024 meetings covered demonstrations of the Company’s latest FOVIO driver and occupant monitoring suite, showcasing advanced R&D-based technology to technology partners, regulators, Tier 1 and OEM customers, investors, and media 1.
In summary, Seeing Machines continues its transparent growth trajectory, backed by strong financial performance and strategic collaborations in the automotive industry. |
I know SEYE and SEE cannot be compared like for like, but if one just focuses of their auto businesses SEYE sales for the 9mths to Sept 2023 were SEK57.4m (us dollars 5.47) compared to SEE's sales for 6mths of US dollars 25.6m. SEYE is a small player and we will see if this changes in it interims later this mth. Shame SEYE stopped giving KPI's |
Thanks Base for answering my question about Stifel. It gives some reassurance after the aweful KPI numbers |
So amt, SEE are doing badly. But SEYE are doing far far worse.
So what happened guys to the DMS / OMS market? Is that it? The 2 biggest players and that is all they sell?
How about this - the market is only in the very foothills. Others know that. Stupid group thinkers don't. |
With view to the Us strike which affected Auto production the KPIs could have been worse.Stifel retain 15p target & if The Directors agree with that they should resume buying again,@ up to 40% less than they were buying less than a year ago & that would be very positive.I am hoping for progress on Collins collaboration & more G3 contracts in H2 -apart from Auto RFQ wins & ,maybe, one day , we will announce that we are ahead of expectation but ,meanwhile, being on target is OK-despite our weak SP |
Longsight I have been bullish for ages but you must admit the KPIs for the last two qtrs are aweful. Gives the impression of a decline in production. Maybe you have better info from Stifel or whoever but this update has little to offer |
In the car trade we used to call these guys "tyre kickers" i.e. bidders look gloomy as hell at the car auction - but given the times we live in, they could be hobbyists? |
Alternatively there will be a pick up in sales towards the end of the decade as people buy petrol cars whilst they still can. Any car sold after 2026 has to have a DMS system, not just electric cars. |
Self imposed koi’s
Who gives a toss
Macglone has to deliver or go |
impressed by all the negative group think - esp on LSE. All that effort to rubbish SEE. So much emotion and zeal! LOL |
Encouraging the share price didn't fall much so perhaps a lot of good things going on and we can ignore the awful Kps. I bet they regret issuing them. |
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